Oppenheimer analyst Tim Rezvan assigned a Buy rating to Magnolia Oil & Gas Corporation (MGY) yesterday. The company’s shares opened today at $12.26.
According to TipRanks.com, Rezvan is a 2-star analyst with an average return of 0.8% and a 50.8% success rate. Rezvan covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Gulfport Energy Corp, and Par Pacific Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Magnolia Oil & Gas Corporation with a $16 average price target.
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Based on Magnolia Oil & Gas Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $53.45 million. In comparison, last year the company had a net profit of $614.2K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGY in relation to earlier this year.
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Magnolia Oil & Gas Corp. engages in oil and gas exploration and production business. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on July 31, 2018 and is headquartered in Houston, TX.
